Minnesota Non-Compete Agreement Template

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The Minnesota Non-Compete Agreement Template functions as a method for a Company’s continued protection of its Trade Secrets and other sensitive information by requiring its professional relationships (such as an Employee, Consultant, or Partner) to maintain its confidence. Once the relationship has terminated, some level of security can be provided if such an agreement (with fair but valuable terms) has been set at the start of the professional relationship with the Recipient of information.

The paperwork present on this page solidifies this promise from the Professional Relationship by requiring a Signature from both the Company disclosing information and the Recipient who promises not to misuse information. There are no statutes or regulations governing non-compete agreements in Minnesota. Generally speaking, Minnesota tends to disfavor non-compete agreements. Therefore, they will only be enforced as contracts if they are lawful, contain terms that are not viewed as unfair or illegal, and have been presented and executed at the start of the professional relationship.

Laws – None

How to Write

1 – Introduce The Company Disclosing Information And The Information Recipient

The Legal Name of each party entering this agreement must be supplied into the section titled “1. Purpose.” Two spaces have been provided in this statement. Provide the Company’s Legal Name on the first one and the Recipient’s Legal Name on the second one.

2 – The Restrictions The Company Places On The Recipient Must Be Verified

The proper Effect of this agreement will call for a solid definition of the terms the Company needs to place on the Recipient. This can be accomplished through the checklist present in “2. Non-Compete/Disclosure.” Each statement bearing a check mark by the time of signing will contribute to the Effect of this contract. Several statements will seek to fully define the general areas of competition the Company wishes to limit or restrict the Recipient from. Checkmark the first box to hold the Recipient responsible for his or her “Business Practices” as defined by the first statement, the second box to limit the Recipient’s use and relations with the Company’s “Clients/Customers,” the third checkbox keep the Recipient restricted from the Company’s “General Competitor(s),” the fourth to prevent the Recipient’s interactions with “Specific Competitors” (List specific entities on the blank lines provided,” and the fifth check box to restrain the Recipient’s relationships with the Company’s “Employees.”

3 – The Durability And Period Of Effect Must Be Recorded

A specific, written time period that obligates the Recipient to this paperwork must be supplied by the Preparer of this contract on the blank line at the beginning of “3. Time Period”. Continue this report on when the Recipient will be obligated to these terms by check marking one of the boxes that would indicate the Company’s preferences regarding when the document shall become effective – the Execution Date of the agreement or at the Termination Date of the relationship the Company and Recipient are engaged in. You may only check one of these last two statements.

Some companies will offer the employee the option of providing monetary funds to the company in exchange for a release from this contract’s listed obligations. This paperwork will allow for such a release, however, documentation of this intent must be provided in “4. Purchase Option.” To make this option available later down the line, check the first box then, enter the expected Payment Amount, in U.S. currency, the Company requires on the blank spaces provided.

Other companies would prefer not to offer this option at all, preferring to hold the recipient responsible for the confidentiality of all company Proprietary Information as promised. If no purchase option will be offered to this employee, check the second box in section “4. Purchase Option.”

5 – The Ruling Government Must Be Defined

If the company has a reasonable list of geographic areas that they would like to include in protecting confidential company information, these areas must be declared as per “5. Jurisdication.” Name any area where this agreement will be enforced on the blank line presented (continue on a clearly labeled attachment to present a list of areas or use compatible editing software to simply extend the line to accommodate this information.

6 – This Paperwork Must Be Associated With A Specific Execution Date

Sections 6 through 13 are the remaining sections for review but will not require any information supplemented by the Preparer. Nonetheless, make sure each Signature Party is fully abreast of the contents here, comprehends the language, and agrees to this document in full before presenting it for the Signing. The Signing of this document will signify its execution and the Date of this Execution must be recorded across the three blank spaces provided in the last statement of “13. Entire Agreement.”

The areas designated as “The Company” and “Recipient” should have the full attention of both parties. The Company must elect a Signature Party to sign on its behalf and then have this individual provide his or her Signature, Printed Name, Title, and Signature Date using the empty lines in the column on the left.

The Recipient must personally supply his or her Signature, Printed Name, and the current Date as his or her Signature Date in the Recipient Column. Three blank spaces (“Signature,” “Print Name,” and “Date”) have been presented to accept these items. Make sure the Recipient prints his or her name precisely as it has been reported in the first part of this document.